Well, not quite so--they did decide to offer him stock conditional upon him joining. While I don't agree with not coughing up a cash bonus, he is making a point about their culture, and that is always a dicey thing to fiddle with. And he isn't really in startup mode.
Stock in a company that isn't public and has no plans to IPO is literally worthless. Joel could have given him ONE HUNDRED BILLION shares if he'd wanted to. Well, almost worthless: it's worth exactly as much as one sheet of paper. Or half a sheet, since now you can only write on one side of it!
At least the t-shirt you could wear for yardwork or in the gym...
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Well, not quite so--they did decide to offer him stock conditional upon him joining. While I don't agree with not coughing up a cash bonus, he is making a point about their culture, and that is always a dicey thing to fiddle with. And he isn't really in startup mode.
Stock in a company that isn't public and has no plans to IPO is literally worthless. Joel could have given him ONE HUNDRED BILLION shares if he'd wanted to. Well, almost worthless: it's worth exactly as much as one sheet of paper. Or half a sheet, since now you can only write on one side of it!
At least the t-shirt you could wear for yardwork or in the gym...